Tuesday, April 28, 2020

Using ProfitBee59 V4.0 in trading of EURAUD daily.

ProfitBee59 V4.0 (pb4 ai) helps in drawing support and resistance (SNR) levels in orange when the bar counting arrives at +9 and in light blue when the bar counting reaches -9. Both of them can serve as support and resistance. Based on a predetermined price range of the the bars, Pb4 ai can also suggest a trading trend by showing a moving average line in green for bullish and red for bearish directions. Up/Dn arrows are provided for easier spotting of the new trends.

In trading of EURAUD daily, the following settings can be used:
Moving average 9,
Manual price range 0.0050 (50 pips),
Server-side alerts: new SNR / new arrow / hit SNR.

Entering a position should be done only in the direction of the moving average line right after the bar with Up/Dn tag has been closed.

Trend reversal often occurs near or at SNR lines.

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